Long-Term Care Insurance Reviews

Short answer

Before you compare policies: The long-term care cost calculator shows what care costs where you live and how to pay for long-term care four ways, on your numbers.

Hybrid life insurance with long-term care: pros and cons

Pros: your premium is never wasted, because the policy pays long-term care benefits if you need care and a death benefit if you do not; premiums are usually fixed or paid once, so there are no surprise rate increases; qualified LTC benefits are income-tax-free; and an old annuity or life policy can fund one through a 1035 exchange.

Cons: it takes a large premium, often $50,000 or more, or a 10-year payment plan; you need to pass health underwriting; the money is tied up and earns less than a MYGA or CD; and most designs cap benefits at a set number of years. The reviews below compare benefit length, inflation options, return of premium and carrier strength.